Envestnet Asset Management Inc. Purchases 20,535 Shares of Applied Industrial Technologies, Inc. $AIT

Envestnet Asset Management Inc. increased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 38.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,784 shares of the industrial products company’s stock after buying an additional 20,535 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Applied Industrial Technologies worth $17,151,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AIT. Alyeska Investment Group L.P. raised its holdings in shares of Applied Industrial Technologies by 27.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock worth $135,835,000 after acquiring an additional 131,465 shares in the last quarter. Boston Trust Walden Corp increased its position in Applied Industrial Technologies by 2.0% in the second quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock worth $118,113,000 after purchasing an additional 10,015 shares during the last quarter. Alliancebernstein L.P. increased its position in Applied Industrial Technologies by 452.6% in the first quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock worth $98,376,000 after purchasing an additional 357,568 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Applied Industrial Technologies by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after purchasing an additional 14,926 shares during the last quarter. Finally, Millennium Management LLC increased its position in Applied Industrial Technologies by 144.0% in the first quarter. Millennium Management LLC now owns 320,903 shares of the industrial products company’s stock worth $72,312,000 after purchasing an additional 189,408 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 0.5%

Shares of NYSE:AIT opened at $257.85 on Thursday. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $282.98. The stock has a market cap of $9.73 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The business’s 50 day moving average is $258.57 and its 200 day moving average is $248.90. The company has a quick ratio of 2.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.30.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.16. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the company earned $2.36 EPS. The business’s revenue was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio is presently 17.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday, October 29th. Bank of America boosted their target price on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Oppenheimer boosted their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. Raymond James Financial cut shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, August 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $287.50.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 8,523 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $267.06, for a total transaction of $2,276,152.38. Following the transaction, the vice president directly owned 19,273 shares in the company, valued at $5,147,047.38. This represents a 30.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil A. Schrimsher sold 26,671 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer owned 149,735 shares in the company, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,660 shares of company stock worth $11,217,980 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.